The social platform X, under Linda Yaccarino, may introduce new financial services, including credit and debit cards. These changes will support the transformation of X into an all-in-one app.
Financial Services on X
On June 19, the Financial Times reported that Elon Musk's social media platform, X, could soon integrate new financial services. Linda Yaccarino highlighted that X users will be able to make trades and investments as part of Musk's efforts to transform X into an 'everything app,' similar to China's WeChat.
X Credit and Debit Cards
Yaccarino stated that the company is exploring the potential addition of an X credit/debit card, which could be introduced in 2025. The plans also include launching X Money — a digital wallet and P2P service with Visa as its first partner, intended for testing in the US. Users will be able to connect debit cards, conduct P2P payments, and transfer funds instantly.
X Revenue Projections
According to projections by research firm Emarketer, X's revenue in 2025 is expected to increase to $2.3 billion, compared to $1.9 billion in 2024. It is also mentioned that in 2022, when Musk took over X, global sales amounted to $4.1 billion. Yaccarino pointed to the platform's AI capabilities, which could aid revenue growth, as xAI, Musk's AI startup, previously acquired X for $45 billion.
X continues to seek the implementation of new financial services, which could transform its functionality and increase revenue in the future.
